Crowdfunding platform Crowdcube has raised more than £1.5 million in funding for seven Scottish businesses.
The figures, which relate to the period since the firm established an office in Edinburgh last October, come just weeks after Perth-based Braveheart Investment Group moved to terminate its joint venture with the firm.
Braveheart has since moved to establish a new relationship with Seedrs Limited, one of Crowdcube’s main rivals.
However, that blow has not stopped Crowdcube from progressing in Scotland after it secured funding for a number of growing businesses.
The largest single fundraise of £515,000 was for Edinburgh-based beer and gourmet food club Flavourly, which had previously walked away from £75,000 of investment on Dragons’ Den.
“We’re delighted with these figures, which show that the appetite for crowdfunding in Scotland is huge,” Crowdcube’s Craig McKenna said.
“We’ve been overwhelmed by the interest shown by both businesses and investors, and our success so far is only the tip of the iceberg. There is a great start-up ethos in Scotland at present, and working closely with partners such as law firm Harper Macleod we’ve been able to tap into this community and the results are clear.”